8/28/17 – Debt Ceiling
Some call it a crime against grandchildren.
Here’s what’s happening behind the headlines.
Congress is promising to once-again raise the national debt ceiling. This would allow Washington to borrow and spend more money.
The concept of a debt ceiling is to prevent unlimited borrowing. It’s putting Washington politicians on a budget. Just like everybody else in America.
This is not a party issue. It’s a politician issue. It doesn’t matter if it’s a Democratic president and Congress, a Republican president and Congress, or divided government.
Time and time again, Republicans and Democrats have worked together to raise the ceiling. To borrow more. So they can spend more.
Some claim a failure to raise the debt ceiling will result in an automatic default. Untrue.
Since our nation’s founding we’ve always met our debt obligations. This shouldn’t change.
In 2015, President Barack Obama worked a budget deal with GOP Congressional leaders. They claimed would turn-around Washington’s spending addiction. It did no such thing. In exactly six months’ time the national debt grew from 18.1 to 19.2 trillion dollars.
Washington politicians campaign on responsible spending. But they govern with irresponsible spending.
Follow Behind the Headlines on Twitter at @BehindTheHead.
Follow Mark on Twitter at @MarkHyman.
Join us on Facebook.